Broker comparison
ICICI Direct vs Arrow (2026): Brokerage, API, AMC & Execution Compared
Side-by-side comparison of ICICI Direct and Arrow from published official pricing and features — no affiliation with either broker.
| Metric | ICICI Direct | Arrow |
|---|---|---|
| Delivery brokerage | Plan-based - see official brokerage page (flat ₹20 plans available) | ₹0 (free) |
| Intraday brokerage | Plan-based - flat ₹20 per order on current flat-fee plans | ₹20 or 0.03% per order (whichever is lower) |
| F&O brokerage | Plan-based - flat ₹20 per order on current flat-fee plans | ₹20 per order (options); ₹20 or 0.03% per order for futures (whichever is lower) |
| AMC | ₹700 per year (₹300 for iVALUE subscribers) | ₹0 (individual accounts; ₹500/year for non-individual accounts) |
| Account opening | ₹0 (free); 3-in-1 account with ICICI Bank | ₹0 (free) |
| Trading API | Breeze API — See official Breeze API page | Arrow API — See official docs |
| Reported execution speed | Not Disclosed | 95% < 2.9 ms · 99% < 4 msself-reported |
| Algo support | Yes - via Breeze API | API with Python & Go clients; in-house algo tools “Coming soon” per official site |
| Platforms | ICICI Direct web, ICICI Direct Markets app, Trade Racer | Arrow mobile app (iOS/Android), Arrow web, Python & Go clients |
| Best for (published) | ICICI Bank customers who want research, advisory and one integrated account. | Latency-sensitive and professional traders who prioritise order-execution speed. |
Statutory charges (STT, exchange fees, GST, etc.) are not included. Figures are from official pricing pages at our last review — verify before opening an account.
What the published data shows
Arrow publishes free equity delivery; ICICI Direct does not (per official pricing at review). Arrow publishes an execution-speed figure; ICICI Direct does not on verifiable sources.
Tools & profiles
- ICICI Direct full profile
- Arrow full profile
- ICICI Direct brokerage calculator
- Arrow brokerage calculator
- Lowest brokerage brokers in India
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Frequently asked questions
ICICI Direct vs Arrow: which has lower delivery brokerage?
At our last review, ICICI Direct published delivery brokerage as "Plan-based - see official brokerage page (flat ₹20 plans available)" and Arrow as "₹0 (free)". Plan-based or percentage pricing cannot always be reduced to a single winner — use the official pricing pages linked below.
Does ICICI Direct or Arrow have a trading API?
Both have documented APIs at review time: ICICI Direct (Breeze API), Arrow (Arrow API). Compare pricing and rate limits on each broker's developer page.
Which is faster — ICICI Direct or Arrow?
Arrow publishes 95% < 2.9 ms · 99% < 4 ms. ICICI Direct has no verifiable execution-speed figure we could cite.
Are these comparisons independent?
Yes. Indian Broker Test is not affiliated with, sponsored by, or endorsed by any broker. Rankings and comparisons use only published official data; gaps are shown as Not Disclosed.
Sources
- ICICI Direct - official website - https://www.icicidirect.com
- ICICI Direct - official pricing - https://www.icicidirect.com/brokerage
- Arrow - official website - https://arrow.trade
- Arrow - official pricing - https://arrow.trade/pricing